Member admission eligibility: companies must meet formation compliance, have directors with unlimited liability, and satisfy other conditions.
A company shall not be eligible for admission as a member unless it is formed in compliance with the statutory formation provision, all its directors have unlimited liability, and it fulfils the other conditions for admission under the securities contracts rules.

Eligibility for exchange membership limited to companies formed as unlimited-liability entities with all directors having unlimited liability.
The draft substitutes clause (4) of rule 8 to make a company eligible for admission as a member of a stock exchange only if it is formed in compliance with the Companies Act provision on company form, all its directors have unlimited liability, and it fulfils the other conditions for admission under the rules.